Norfolk Blogger

Why you cannot rely on "the market" to sort themselves out

nichstarling@btinternet.com (Norfolk Blogger) — Sun, 12 Oct 2008 09:13:00 +0000

There are still some people around who believe that "the market", the "free economy", in short, capitalism, can fix itself, can run without government help, it stops monopolies, creates competition and that prices are set according to demand and market conditions. Patently, as the panic in world markets show, this is untrue.

Perhaps though, for me, the stupidity of "the market" was shown on Friday. Whilst some might say that banking stocks could expect a hammering (although with a government guarantee this still seems daft), there were some stocks that the market abandoned which shows the holes in free market thinking.

Take, for example, Severn Trent water, whose share price on Friday was down more than 6%. Why were shares in this company down ? Will people in the Severn Trent area have to take less baths ? Will people in the area they cover suddenly stop drinking water ? In many ways Severn Trent might actually sell more water as people rely less on the bottled variety.

So why were their shares down 6% ? Because the market is stupid.

Further evidence that Tony Blair just cannot stop lying

nichstarling@btinternet.com (Norfolk Blogger) — Sun, 12 Oct 2008 06:48:00 +0000

Way back in 1997, the controversial decision to exempt Formula One from a ban on tobacco advertising was passed of by Tony Blair as being nothing to do with him, nothing to do with a £1million loan to Labour from F1 supremo Bernie Ecclestone, and nothing to do with Ecclestone's meeting with Blair just hours before the decision was made.

Now, it is reported that the truth is very different.

"The documents reportedly show then Prime Minister Tony Blair intervened to secure an exemption just hours after meeting the racing tycoon on 16 October 1997.

But at the time, the prime minister denied personal involvement, and appeared on a BBC programme to insist he was a "pretty straight kind of guy".

A pretty straight kind of guy ? And to think Tony Blair now lectures in the US on faith and morality !

I actually feel for John McCain

nichstarling@btinternet.com (Norfolk Blogger) — Sat, 11 Oct 2008 21:13:00 +0000

Watching john McCanin tonight on the news having to defend Barack Obama at his campaign rallies against racist and xenophobic attacks from right wing Republicans really does make you feel for McCain in a big way.

John McCain is not a bad man. Indeed, as Republicans go he is a fair, honest, decent gut with an amazing war record and is known throughout Washington (so the reports say) as honest, intelligent and does his duty without partisan politics getting in the way.

He spoke at the beginning of his campaign how silly comments from Barack Obama's former Paster would not be used against Obama and likewise he said the issue of his son serving in Iraq would also not become a political issue. It is clear he wanted to fight on policies, not personality.

Sadly for McCain, the polls were against him, and in desperation he went for Sarah Palin, a disastrous gaffe which suddenly put in to question his judgement and also made people focus on his health (and age) in a new way. People fear a Palin presidency.

And now, with Republic party bosses pushing for McCain to be more and more negative, with hatred spewing forth from Palin and Republicans across America towards "that Arab" Barack Obama/ Palin goes on about Obama and terrorism, she also goes on about his Pastor whilst John McCain's wife now attacks Obama and brings up her son serving in Iraq. And suddenly John McCain is confronted by people who claim to be his supporters who are the very sort of people McCain has spent his whole political life fighting to oppose.

It's a sad day for McCain. A decent man trapped in a campaign not of his choosing.

Palin guilty

nichstarling@btinternet.com (Norfolk Blogger) — Sat, 11 Oct 2008 07:26:00 +0000

Yes, Sarah Palin abused her powers as Alaskan Governor in order to sack someone who had in turn refused to sack her ex brother in law who she wanted rid of.

It's the true sign of some one's morality and integrity that they use their roles and positions with responsibility.

Would you really trust her in the White House ?

How Britain dumps on those who help us (from a great height)

nichstarling@btinternet.com (Norfolk Blogger) — Fri, 10 Oct 2008 18:40:00 +0000

The news that Iraqi interpreters who have worked with great honour and distinction for the UK forces in Iraq have been refused asylum in the UK shows up our government in a shameful way.

Read the full story HERE.

Iceland - A good precendent why Lloyds TSB should remain based in London

nichstarling@btinternet.com (Norfolk Blogger) — Fri, 10 Oct 2008 17:10:00 +0000

If the crisis over investments in Iceland hasn't already made those people who took money out of UK banks to put in Irish banks think again, then nothing will. But the situation also highlights the worries companies must now face if they are too big for the country they are based in, and certainly Lloyds TSB must be bearing this in mind when they decide where the new Lloyds/HBOS group will be based.

Just a few days ago SNP leader Alex Salmond, who was to meet Lloyds executives in Scotland, was talking of the benefits of Lloyds being based in Scotland, and whilst Scotland remains part of the UK, this might be true. However, the real reason many will surmise that Alex Salmond is doing his best to woo Lloyds is because if his party eventually achieves its aims of Scottish independence, Lloyds would pay its corporation tax to a Scottish government, and not to London.

Now in less turbulent times, this would be no concern to Lloyds, but hasn't the Iceland situation changed that view ?

It seems increasingly clear that small countries are unable to sustain banking giants. Would I want my money in a Scottish bank in a future financial crisis ? Could the Scots bail out a giant like Lloyds/HBOS ? That's a question Lloyds executives will have to mull over very carefuly.

How will Iain Dale react to a nationalised West Ham ?

nichstarling@btinternet.com (Norfolk Blogger) — Thu, 09 Oct 2008 21:22:00 +0000

I note today that the British government was prepared to go further in an attempt to secure assets from Iceland which may go some way to covering the enormous debts they have in respect of British depositors (both corporate and government).

The government have even hinted that the UK government may seize any and all Icelandic owned business assets in this country that have a value.

It made me wonder if Iain Dale would be happy to support West Ham United if they were owned by a Labour government ?

Then again, they did say they would only seize assets that had any real worth, so West Ham might escape nationalisation !

Has Breckland Council been taking spectacular risks with their funds in Icelandic banks ?

nichstarling@btinternet.com (Norfolk Blogger) — Thu, 09 Oct 2008 18:26:00 +0000

Yes, a lot of councils have had money invested quite sensibly in Icelandic banks and appear to have been caught out. No one can particularly blame them for that. However, I was astonished to see that Breckland Council, a small Norfolk District Council whose total expenditure is £19 million (according to their own figures), has had £12 million invested (and possibly lost) in Icelandic banks.

My initial thoughts were that there are other councils who have lost more, but as a percentage of their total spend, is there another council who has lost more than 60% of their annual expenditure ?

The other question is why have Breckland got so much of their money in one bank ? Are they not supposed to spread the money around in order to spread the risk ? I note that the EDP states that Breckland has total cash reserves of £40 million pounds, so £12m represents more than 25% of total reserves.

Sarah Palin: Palling around with secessionists

nichstarling@btinternet.com (Norfolk Blogger) — Thu, 09 Oct 2008 06:26:00 +0000

The links Sarah Palin has claimed Barack Obama has with terrorists seem tenuous in the extreme, however, the evidence that Sarah Palin is "palling around with secessionists" seems much stronger.

Again, I am obliged to Paul Walter for finding this excellent piece about Sarah Palin and her palling around with secessionists.

I don't mind bailing out UK banks, but why are we bailing out Spanish banks too ?

nichstarling@btinternet.com (Norfolk Blogger) — Wed, 08 Oct 2008 20:44:00 +0000

I can see all the reasons why the government has felt the need to bail out HSBC, Lloyds TSB, Barclays, Standard Chartered, RBS, HBOS and Nationwide. After all, they are all UK banks, pay UK corporation tax and are UK owned.

The big question for me is, why are we bailing out Abbey, which is part of the Spanish banking giant Santander, which Alistair Darling was claiming was relatively chas rich on the radio this morning ? On Radio Five Live Mr Darling hailed the way the government had dealt with Bradford and Bingley, where a strong foreign bank (Santander) stepped in. However, at the same time the British Government's rescue plan seems to involve UK tax payers bailing out Abbey.

Shouldn't the Spanish Government step in to guarantee Spanish banking giants or am I missing the bleeding obvious ?

Why do the football authorities only act tough with the British ?

nichstarling@btinternet.com (Norfolk Blogger) — Wed, 08 Oct 2008 17:04:00 +0000

Rangers and Celtic have been threatened with serious sanctions by football governing bodies for sectarian chants. English teams were banned from Europe for hooliganism whilst the English FA have been fined for their fans behaving badly when subjected to police intimidation (work that out !). Yet when the Croatian FA are found guilty for a third time for the overt racism of their fans, they are fined just £15,000, which in football terms is a meaningless slap on the wrist.

Rio Ferdinand is absolutely right when he pointed out today that FIFA is not actually prepared to do anything about racism. It talks the talk but always fails to walk the walk, unless, that is, it is dealing with British football.

It seems if you are FIFA or UEFA, it is much easier to attack the British and let other act with impunity.

Decisive win for Obama in second debate

nichstarling@btinternet.com (Norfolk Blogger) — Wed, 08 Oct 2008 06:34:00 +0000

It seems clear that by a 54% to 30% margin Barack Obama has won the second debate.

With McCain's own team stating publicly that the more they talk about the economy, the more likely McCain is to lose, they will be devastated that 45 minutes (half) of the time was spent on the economy alone, but I guess that shows how serious an issue it is at the moment.

Sarah Palin and the dodgy tax returns

nichstarling@btinternet.com (Norfolk Blogger) — Tue, 07 Oct 2008 19:11:00 +0000

Oh what a joy Sarah Palin is. She's the candidate who just keeps giving.

This time I bring you news that her tax returns appear to be wrong and that she may owe several tens of thousands of dollars in tax. Click HERE to read Paul Walter's Liberal Burblings blog who has more on this story.

Postings may be light for the next couple of days

nichstarling@btinternet.com (Norfolk Blogger) — Mon, 06 Oct 2008 21:05:00 +0000

I may not be blogging much over the next two days. Sadly, I have some sort of dodgy stomach , sickness, the squits (there's a Norfolk term for you), a temperature and despite going to work today, I feel like death warmed up.

Why do Yahoo and MyBlogLog allow someone else to claim ownership of my blog ?

nichstarling@btinternet.com (Norfolk Blogger) — Mon, 06 Oct 2008 15:44:00 +0000

I registered this blog to me with MyBlogLog (a Yahoo company) in September 2006. However, someone else, has also laid claim to my blog on MyBlogLog and bizarrely, despite me e-mailing them about it, they have neither had the courtesy to respond or deal with the false claim.

THIS LINK highlights the false claimant, who seems to have a grudge against Setanta Sports.

Hopefully the posting of this might encourage Yahoo and MyBlogLog to actually take action this time.

UPDATE: Yahoo seem to have responded to this. It's a shame they had not done this when I emailed them about it a few weeks ago.

Did Sarah Palin use an earpiece in the VP debate ?

nichstarling@btinternet.com (Norfolk Blogger) — Sun, 05 Oct 2008 20:14:00 +0000

It looks as though Sarah Palin's Vice Presidential performance might have had some assistance.

Click HERE to read more.

If you were an Everton player ...

nichstarling@btinternet.com (Norfolk Blogger) — Sun, 05 Oct 2008 16:56:00 +0000

A short multiple choice questionnaire.

1) You are leading 2-0 and there is just 30 seconds left in the first half. The opposition have just had a free kick in you half, all their full backs are up the pitch. The ball breaks to you in your own half.

Do you :

a) Keep possession in an attempt to waste the final 30 seconds of the first half.

b) Try a stupid flick with the outside of your foot knowing that losing goal at this vital time could be disastrous.

2) You are drawing 2-2 in a game in which you were 2 - 0 up and cruising. There are just five minutes left and you win a free kick half way in the opposition's half.

Do you :

a) Take the free kick from the correct position, waiting for the full backs to get up in to the opposition's half in order to use their height to score a goal.

b) Take the free kick 10 yards behind where the free kick should actually have been taken ensuring that your full backs have not yet got forward and are now in a sort of no mans land.

Yes, if you hadn't worked it out, if you answered (a) in both cases, you are not stupid enough to play for Everton. If you answered (b) to both, write to David Moyes, c/o Everton Football Club Limited, Goodison Park Stadium, Liverpool.

P.S. Yes, as well as being a Norwich fan I am also an Everton fan (Everton are my first club) and yes, I am mightily pissed off at the inept display of footballing stupidity emanating from Goodison Park this afternoon.

What's wrong with tradition ? The new Postman Pat is lecturing and patronising

nichstarling@btinternet.com (Norfolk Blogger) — Sun, 05 Oct 2008 12:51:00 +0000

Postman Pat (and his black and white Cat) have been updated. He no longer drives his van, he has to have a fruit smoothie before he starts his work, he has to deliver wind turbines (very "Right On"), he has a Blackberry, he flies a helicopter (like all postmen do) and as usual with so many new series or updated versions of old shows, the opening music seems to go on for 2 minutes in order to make the actual show that much shorter cheaper to produce (just watch Thomas the tank engine as an example of this).

The episode I watched today with my son (he is only one) was actually rather patronising in its tone and nothing like the original. It lectured about wind power, wasting electricity, litter and probably a good number of other things that passed me by.

What was wrong with him driving his van around remote countryside helping people with real life everyday problems ?

Margaret Thatcher is to blame for the Credit Crunch

nichstarling@btinternet.com (Norfolk Blogger) — Sun, 05 Oct 2008 08:26:00 +0000

Iain Dale has an article from Dennis Sewell on his blog claiming that it is all Bill Clinton's fault, and if you subscribe to the view that all the problems we face are all the fault of the US and their problems, then yes, Iain Dale may be correct. However, if, like the Tory Party, you want to blame Gordon Brown and Labour for the problems we face, then Iain Dale's argument somewhat collapses.

Perhaps most interesting is the quote Iain uses to show us how Clinton was to blame. In this quote it says :

"The main thrust of the Clinton housing strategy was to increase home ownership among the poor, and particularly among blacks and Hispanics. White House aides, in familiar West Wing style, could parrot the many social advantages that would accrue: high levels of home ownership correlated with less violent crime, better school performance, a heightened sense of community."

The problem for me is this seems so similar to the strategy of Margaret Thatcher which has led to our own housing bubble. Council houses were sold off, councils were not allowed to use the cash to build new ones leading to shortages of housing, people getting on the housing ladder without the necessary finance, banks becoming increasingly willing to lend to anyone, and thus the housing boom was born, and from each boom there comes a bust, which we are suffering again now.

I know the argument are more complex than that, but for me the problems in this country were born from Margaret Thatcher's housing policy.

In defence of Jamie Oliver

nichstarling@btinternet.com (Norfolk Blogger) — Sat, 04 Oct 2008 17:03:00 +0000

I am no fan of Jamie Oliver usually. I find his references to "lob some of that" and "look at this little baby" and "pukka" so very annoying, and I have indeed blogged on this in the past. However, not one to hold a grudge, I watched his new show "Jamie's Ministry of Food" during the week and was impressed with the message he was putting across, his zeal in dealing with problems, the care and attention he took with the people who volunteered and he came over in a very good light. So I was surprised to read some pillock of a local councillor in Rotherham attempting, in my opinion, to take the title of "people's champion" and denouncing Jamie Oliver.

Tory Councillor John Gilding, said the show gave the impression all the town's residents lived on "doner kebabs". In actual fact, the show didn't, but the clear focus of the show was to work on those people who do live on junk food, chicken nuggets, burgers and kebabs.

I am not sure what Cllr Gilding eats or the diets of his constituents, but attacking Jamie Oliver for seeking to do the right thing seems the height of populist daftness.

The government should start taking economic advice from Robert Peston

nichstarling@btinternet.com (Norfolk Blogger) — Sat, 04 Oct 2008 15:50:00 +0000

The BBC's Robert Peston has been ahead of the government in almost every respect during the credit crunch. He predicted the problems faced by Northern Rock, Bradford and Bingley and Alliance and Leicester, he remarked months before the credit crunch started that their were very grey clouds on the horizon, and he also broke the News of the HBOS takeover by Lloyds TSB before anyone else knew.

Seemingly, it seems, the BBC's Robert Peston knows a great deal more about the problems in the economy than the Chancellor does. So given all this, perhaps the government could do a lot worse than to take his advise on how to put matters on to a more stable footing whilst also making sure that the tax payer does not miss out. It's well worth a read.

No "Views from the River End" Today thanks to Norwich's roads

nichstarling@btinternet.com (Norfolk Blogger) — Sat, 04 Oct 2008 14:29:00 +0000

Some of you will know that I have another blog which covers issues relating to Norwich City Football Club. Unfortunately, there will be little in the way of views for me today thanks to Norwich's truly awful road network.

Today, on my journey in to Norwich (only 7 miles to the car park than a one mile walk), the roads were gridlocked all around the northern part of the inner ring road meaning I moved about 80 yards in 40 minutes in one road and about 30 yards in 20 minutes on another road. The dawning realisation that it was likely to turn what should have been a journey of no longer than 20 minutes in to a 90 minute journey led me to do a u-turn and get out of Norwich and home (which actually took just 12 minutes).

If anyone has ever been to Norwich you will know what truly awful roads we have. They are designed to encourage road rage, constantly switching from two lanes to one lane, placing bus stops so as to stop traffic flow whilst the traffic light seems constantly to be breaking down.

Whilst the junctions I came to today that were snarled up did have working traffic lights, what was desperately needed was a policeman to direct traffic, stop people driving in to and stopping in yellow boxed areas (which is illegal anyway) , and use a human mind to sort out the problems that traffic lights cannot detect. Sadly, at each junction there was no policeman to be seen.

Then what do you think I saw pulled up by the side of the road on my way home ? I didn't see a speed gun in the police officer's hand, but it did make me wonder what the police were doing parked up in the countryside when Norwich was so snarled up.

However unpleasant the subject, Chris Huhne is right

nichstarling@btinternet.com (Norfolk Blogger) — Sat, 04 Oct 2008 09:56:00 +0000

When I read the headline that a Lib Dem MP is backing the rights of a holocaust denier not to be arrested and extradited from the UK to Germany, I was somewhat concerned. But when I read the full details, it is clear Chris Huhne is right.

It is a fact that holocaust denial is not a crime in this country so it cannot be right to to arrest someone in this country for doing something that is not illegal. Imagine if a country made it a criminal offence to be Buddhist. Would we arrest all Buddhists and extradite them to the country that made them illegal ? The craziness of the situation is brought home when you realise that Poland is seeking to extradite Polish citizens from Belgium using European laws because these Poles have had abortions in Belgium, something that is perfectly legal over there, but illegal in Poland.

There is no denying that the words of Dr Gerald Toben are deeply offensive, shows shocking lack of knowledge and highlight him to be truly repugnant and worthy of everyones' contempt. But as an Australian citizen legally expressing his right to free speech, it is not something he should be arrested for.

Little Britain USA - Good but spoilt by too much American canned laughter

nichstarling@btinternet.com (Norfolk Blogger) — Sat, 04 Oct 2008 09:50:00 +0000

I enjoyed Little Britain USA on the BBC last night and felt that it kept true to the original spirit of the original British version of the show. However, I am surely not the only person who got irritated by the hysterical canned laughter which greeted almost every line, even those lines which featured no catchphrases or jokes.

It reminded me of the classic series M.A.S.H., which US television used to sell to the BBC without the canned laughter track because, as one of the stars of the show, Alan Alda said, "British audiences know when to laugh and don't need to be told". Sadly, Little Britain USA obviously came with the canned laughter track as part of the audio, thus meaning it could not be removed. This is a shame because I became increasingly irritated by the same hysterical laughter making it difficult to actually hear what was being said.

Is Esther Rantzen that dim ?

nichstarling@btinternet.com (Norfolk Blogger) — Fri, 03 Oct 2008 19:26:00 +0000

I am currently watching a dreadful documentary on ITV called "Esther versus the PC Brigade", which is one of ITV's "Tonight" shows.

In this shows she addresses the issue of people being unwilling to help children for fear of allegations being made against them, and she says this is all down to "political correctness".

She used, as an example, a child actor standing looking lost in a shopping centre whilst people walked past. Every time someone walked past she made some daft reference to "political correctness", whilst never making the link that it was actually through fear that people didn't stop to help.

Too often, sadly, people will sue, make allegations or seek to make the good Samaritan look like the devil. Apparently though Esther Rantzen seemed unwilling to acknowledge this fact and instead liked her show to make reference to "jobsworth teachers", whilst ignoring the steady but rising number of malicious and false allegations made against teachers.

Is Esther Rantzen really as thick as the show seemed to indicate ? Clearly there was not balance, not attempt to speak to someone who had false allegations made against them or to examine in depth why people are afraid to stop and help a child. One thing is for sure, it is nothing to do with political correctness and much more to do with our litigious society.